Shore Bancshares EVP reports RSU vesting and taxes

Shore Bancshares executive Charles E. Ruch Jr. reported the vesting and conversion of restricted stock units into common stock, along with tax-share withholding.

Rhea-AI Filing Summary

Shore Bancshares executive Charles E. Ruch Jr. reported the vesting and conversion of restricted stock units into common stock, along with tax-share withholding.

On March 7, 2026, 1,104 restricted stock units converted into 1,104 shares of common stock at no cash cost. To cover tax obligations tied to this vesting, 386 shares of common stock were withheld by the company, and no shares were sold by the executive. Following these transactions, he directly held 7,918 shares of common stock and 3,814 restricted stock units. Footnotes describe additional RSU tranches scheduled to vest in 2027 and 2028.

Insider Trade Summary

1,104 shares exercised/converted

Exercise 3 txns

Insider Ruch, Jr. Charles E.

Role EVP, Chief Credit Officer

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Units	1,104	$0.00	$0.00
Exercise	Common Stock	1,104	$0.00	$0.00
Exercise Price or Tax Liability	Common Stock	386	$0.00	$0.00

Holdings After Transaction: Restricted Stock Units — 3,814 contracts (Direct); Common Stock — 7,918 shares (Direct)

Footnotes (5)

1. F1. Restricted stock units convert into common stock on a one-for-one basis.
2. F2. Shares withheld by the issuer to satisfy tax withholding obligations in connection with the vesting of RSUs; no shares were sold by the reporting person.
3. F3. Each restricted stock unit represents a contingent right to receive one share of SHBI common stock.
4. F4. These restricted stock units vested on March 7, 2026.
5. F5. The restricted stock units vest as follows; 1,104 units on March 7, 2027; 1,355 units on February 27, 2027; and 1,355 units on February 27, 2028.

FAQ

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What insider activity did SHBI executive Charles E. Ruch Jr. report?

He reported RSU vesting, share conversion, and tax-share withholding. On March 7, 2026, 1,104 restricted stock units converted into 1,104 common shares, and 386 shares were withheld by Shore Bancshares to satisfy tax obligations related to the vesting.

Did the SHBI executive sell any shares in this Form 4 filing?

No, the executive did not sell any shares. The filing specifies that 386 common shares were withheld by Shore Bancshares solely to satisfy tax withholding obligations upon RSU vesting, and that no shares were sold by the reporting person.

How many SHBI shares and RSUs does Charles E. Ruch Jr. hold after the transactions?

He holds 7,918 common shares and 3,814 restricted stock units. After the March 7, 2026 vesting and tax withholding, these amounts represent his directly owned common stock and remaining RSUs, each RSU representing a contingent right to one SHBI common share.

What are the future vesting dates for SHBI restricted stock units reported in this filing?

Future RSU vesting is scheduled for 2027 and 2028. The RSUs vest as 1,104 units on March 7, 2027, 1,355 units on February 27, 2027, and 1,355 units on February 27, 2028, each unit converting into one share of SHBI common stock.

How do SHBI restricted stock units convert into common stock for this executive?

Each restricted stock unit converts into one share of common stock. The filing states RSUs convert on a one-for-one basis into SHBI common stock when they vest, creating new directly owned shares for the executive upon each vesting event.

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Accepted by SEC EDGAR 03/09/2026 - 12:30 PM Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Ruch, Jr. Charles E.

(Last) (First) (Middle)

18 E DOVER STREET

(Street)

EASTON MD 21601

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
SHORE BANCSHARES INC [ SHBI ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP, Chief Credit Officer

3. Date of Earliest Transaction (Month/Day/Year)
03/07/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	03/07/2026		M		1,104	A	(1)	8,304	D
Common Stock	03/07/2026		F		386(2)	D	$0	7,918	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stock Units	(3)	03/07/2026		M			1,104	(4)	(4)	Common Stock	1,104	$0	3,814(5)	D

Explanation of Responses:

1. Restricted stock units convert into common stock on a one-for-one basis.

2. Shares withheld by the issuer to satisfy tax withholding obligations in connection with the vesting of RSUs; no shares were sold by the reporting person.

3. Each restricted stock unit represents a contingent right to receive one share of SHBI common stock.

4. These restricted stock units vested on March 7, 2026.

5. The restricted stock units vest as follows; 1,104 units on March 7, 2027; 1,355 units on February 27, 2027; and 1,355 units on February 27, 2028.

Remarks:

	/s/ Christy Lombardi, Attorney in Fact for Charles E. Ruch, Jr.	03/09/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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